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Fundamentals of LNG
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Operational and commercial essentials of the Liquefied
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Natural Gas (LNG) sector - by tutored distance learning
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Starts 1 May 2018
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During the course you will study the following modules:
 Expand all modules

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Introducing LNG: Background, Properties, Production and Use

This module is designed to give an overview of the natural gas and LNG industries and to
cover some of the important fundamental issues that later modules will build upon. It will also
introduce some of the specialised technical terms and jargon which exist in all industries. This
module will also introduce the various units of measurements that are used in the LNG
industry worldwide. 

What is LNG and how does it fit in to the global natural gas industry?
Reserves
Extraction and production
International transportation of gas and LNG
Background to the LNG industry
History
Key players
Key differences between natural gas/LNG and oil
Sources and properties of natural gas and LNG
Natural gas and LNG: definitions and composition
Production and processing of LNG
Main uses of natural gas and LNG
The residential, commercial and industrial markets
Conversions: LNG and natural gas; natural gas/LNG and other energy sources

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Production to Shipping

This module introduces the concept of the value chain, its economics and a detailed discussion
of the first parts of the chain from gas production through to LNG shipping

Introducing the value chain

Economics of the LNG value chain
Cost issues
Production of Natural Gas Liquids and Liquid Petroleum Gases
Exploration, production and transportation of gas to the liquefaction plant
Tax and royalty
Production sharing and service agreements
Liquefaction
 The liquefaction “train”
Economies of scale
Liquefaction plant operations
Floating Liquefaction (FLNG) and small-scale liquefaction plants
Shipping
Introduction to LNG shipping
The LNG fleet
Drivers of growth
Key players
LNG ship finance
Freight calculations
Safety and environmental issues

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Regasification to the End-User

The purpose of this module is to build upon the information provided in Module 1 and to
understand the initial parts of the LNG value chain.

Regasification
Elements of a regasification terminal
Optimising regasification terminal design and operations
Land based and floating terminals
Safety, environmental and permitting issues
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Transportation from regasification terminal to end users 
Pipelines
LNG in different types of markets
LNG as the only form of gas supply
LNG as a small element of a predominately pipelinesupplied market
LNG and pipeline supply as approximately equal suppliers
LNG in liberalised gas markets and Third Party Access issues
End-user issues
Combined Cycle Gas Turbine (CCGT) power plants
LNG as a ship’s fuel
Industrial users
Domestic and commercial users
Sales contracts to end-users and the ability to align these with LNG contracts
LNG as a “floating pipeline”
Differing legal systems
LNG value chain: conclusion

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LNG Markets, Supply and Demand

The purpose of this module is to provide an understanding of the issues impacting the market
for LNG worldwide and the specific issues relating to the global supply and demand for LNG.

LNG in the context of global demand for energy

The global supply of LNG and its principal outlets
Geographical overview of markets
Main suppliers
Main buyers
Changing patterns and emerging markets
New markets and new trade routes
Supply security issues
Gas and LNG in a carbon constrained world
Diversity of supply and flexibility of destination
Producers’ dilemma: exports vs. domestic demands

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LNG Pricing and Trading

The purpose of this module is to provide an understanding of the issues impacting the market
for LNG globally and the specific issues relating to the global pricing of LNG.

Principles of gas and LNG pricing

Pricing regimes in the various global markets
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Cost components
Gas price indexation
Pipeline gas vs. LNG prices
Long term vs. spot prices
LNG and gas trade
How LNG and pipeline gas compete
How LNG can complement pipeline gas
Trade barriers
Differences between long term and short term trading
Emerging LNG spot trade
The evolving dynamics of LNG trading
Short term LNG contracts and Master Sales Agreements
Global trade practices
Risk management

Payment security and guarantees

6
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LNG Projects, Contracts and Future Trends

The purpose of this module is to provide an understanding of the ways that LNG projects are
structured, the main contracts that underpin this structure and a discussion of the terms of a
LNG SPA.

LNG Projects
The Joint Venture Model
Financing LNG projects
Project decisions
Developments of the Joint Venture Model
Other project models (e.g. tolling)
The role of governments in LNG projects
LNG business models
Liquefication JVs
Import Terminals
LNG contracts (Sales and Purchase Agreements)
Main features of an LNG contract
Long term vs. short term
Free On Board (FOB) vs. ex-ship contracts
The process of getting to a final agreement
Term sheet
Heads of Agreement/Memorandum of Understanding
Full agreement
Negotiating process and time required Leave a message 
LNG outlook and future trends
Opportunities for the industry
Potential threats

Very good course which met my expectations and will allow me to build on the
knowledge that Bill imparted for my LNG and gas related consulting work.

Bart Lucarelli, 

Roleva Energy Ltd

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achiricho@yahoo.co.uk
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